B/E Aerospace (BEAV) Sees Q3 Charge on Cost Reduction Program

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Go back to B/E Aerospace (BEAV) Sees Q3 Charge on Cost Reduction Program

B/E Aerospace to Take $30 Million after-Tax Charge in Third Quarter Associated with Cost Reduction Initiatives

September 16, 2015 7:00 AM EDT

WELLINGTON, Fla.--(BUSINESS WIRE)-- B/E Aerospace, Inc. (the Company) (NASDAQ: BEAV), the worlds leading manufacturer of aircraft cabin interior products, today announced that it expects to recognize charges during the third quarter associated with its cost reduction program. The charges reflect costs associated with facilities consolidation, product rationalization, workforce reductions and program discontinuance. The Company plans to close several facilities, consolidate certain product lines and reduce headcount by approximately 450 employees. Total after-tax charges for the associated activities are expected to be approximately $30 million.

"These initiatives are expected to reduce costs and improve... More